First deposit bonuses are one of the most popular online casino welcome bonuses out there. New customers can bag themselves a large bonus offer simply by signing up and making their first deposit. In this guide, we take a look at some of the configurations of this bonus, including the value, percentages and expected wagering requirements. We also take a look into whether 500% first deposit bonuses actually exist.
It’s no wonder that new players are so interested in this type of casino bonus, as it is the biggest and best way to increase your balance. Just keep in mind that the money will be held in bonus funds until wagering requirements are completed, which is part and parcel of a deposit bonus. Keep reading to find out more about whether a 500 first deposit bonus is worth claiming.
What Is a First Deposit Bonus?
Arguably the best value for money, first deposit bonuses are used by online casinos to attract more players. They will typically be 100%, sometimes 200%, and usually up to a value of around £100. Of course, this depends completely on the casino you choose. You are awarded this as soon as you make your first deposit at an online casino.
We’re talking about one type of casino bonus here, the first deposit match. There are, of course, many other types of casino bonus. Things like 50 free spins, 100 free spins, cashback, and a no deposit bonus are also available. Keep in mind that these are usually lower value, and you will be much better rewarded if you’re willing to deposit.
Bonuses as big as 500% are available in some places, but you have to know where to look. These are very unique, and hard to come by with a UK casino, but they are out there. The best part? They are hardly ever all that’s on offer. Most new players can also expect free spins in addition to their casino bonus, as an extra special treat for signing up. They will usually be restricted to selected games but can be a lot of fun.
What’s The Catch With 500% Deposit Bonuses?
Although less common, you will come across some seriously attractive deposit matches. The elusive 500% first deposit bonus is just one example of a huge welcome bonus used by some online casinos.
As you’d expect, terms apply, and a large casino bonus comes with plenty of terms and conditions. Firstly, they are exclusive to new players. You will also find that most large deposit matches will be sticky bonuses, meaning that the bonus funds can never be withdrawn. This stands even if you meet the wagering requirements. There will also be a minimum deposit you will need to make before you trigger the 500 casino bonus, and this can be anywhere up to £50. Always check for the minimum deposit before you spend anything, as if you do not meet it, you won’t get the offer.
Only certain deposit methods will be included in these types of promotions, so be sure to check beforehand. The likes of e-wallets like Neteller and Skrill are almost always excluded. There may also be a promo code required, so check that too.
The wagering requirements can be substantially higher in 500% first deposit bonuses. They can be subject to 40x wagering or even higher. It is, however, worth remembering that with a large bonus comes more chances to win and thus turn over. It’s easier to have a good crack at the wagering requirements with a 500 bonus than it is with £5. Below we’ve noted down some typical examples of what you will need to wager in order to turn bonus funds into cash.
| Bonus Amount | Wagering Term | Required Turnover |
|---|---|---|
| £300 | 40x | £12,000 |
| £400 | 50x | £20,000 |
| £500 | 60x | £30,000 |
Terms and Conditions
Your 500 first deposit bonus will come with some pretty tough terms and conditions. This is because this type of bonus is incredibly risky for any online casino, and they can lose a lot of money. To minimise the damage of the offer, they will put strict rules in place to avoid what is known as bonus abuse.
The most obvious thing would be to spin at £10 a spin, in hopes to land a huge win, right? Unfortunately, this is often prevented by online casinos. Maximum wins will be the biggest sticking points with a 500 deposit bonus. The online casino will stipulate how much you can win from the bonus, and it can be capped as it low as just £1,000. Although £1,000 would be nice, it’s a low limit on a bonus of £500.
You will also need to keep an eye out for maximum stakes. Standard casino bonuses will typically be capped at 10%, for example, a £50 bonus would only allow £5 stakes. Because of the size of the deposit bonus offers we’re talking about in this guide, these rules are even stricter. Your 500 first deposit bonus may have maximum stakes as low as £5 per spin. If you spend any more bonus funds at one time, it may be removed.
Don’t get caught out with expiry dates either, as they are something we easily overlook. You will normally be given around 30 days to complete bonus wagering and use your bonus funds. This can vary by casino though, and can sometimes be as short as 7 spins, particularly with free spins on selected games.
Can I Withdraw From a 500 First Deposit Bonus?
Ultimately, we all play at an online casino because we want to win. Yes, it’s fun, but the aim of the game is to win some cash. You can win from any casino bonus, you just need to get lucky. The difficulty with the larger bonus offers is the wagering requirement. However, if you’re lucky enough to win and complete your wagering, then yes, you can withdraw real money without any problems.
Just remember, new customers will need to complete verification before making a withdrawal of any kind. This is not exclusive to those claiming 500% welcome bonuses, but to every new customer at any casino in the UK. To avoid any delays in getting your cash, have your documents handy.
Your bonus offer will also have some stipulation around maximum withdrawals, so be aware of this before you play. If all of these mentioned things are done, then withdrawing from a 500 first deposit bonus is easy.
Are 500% First Deposit Bonuses Worth it?
In a nutshell, yes, a 500 deposit bonus is very much worth it. Everybody has different preferences when it comes to bonuses. As a rule of thumb, the larger the bonus, the increased chances of withdrawing cash.
If you have £100 to play with, and you are eligible for a 500% first deposit bonus, you’re going to play with £600. Not only is this much more than you started with, but gives you plenty more spins and time to turn it over. This is exactly why a deposit bonus is better value than free spins or any other bonus for that matter.
Even if you can’t withdraw the initial bonus amount, you will still be able to withdraw your winnings once wagering is complete. A lot of people will be tempted to take the £10 no deposit welcome bonus. But, if you want a real chance of leaving with some cash in your pocket, we recommend these large casino bonuses. Here’s a recap of our advice on how to make the most of this type of deposit bonus:
- Terms apply, so check them for wagering, min deposit, maximum wins and expiry dates (often less than 30 days, sometimes as little as 7 days)
- Have your KYC documents ready so that you can withdraw winnings from your bonus funds without any problems
- Sign up to a casino you haven’t used before, as new players will get the best offers as part of a welcome package
- Make sure you check the payment methods included before you deposit. Certain deposit types will be excluded from bonus offers.
Where Can I Find a 500 First Deposit Bonus UK?
Finding a 500 casino bonus isn’t easy, and it will take you some time and effort. You will need to look through all of the different online casinos and look at their individual welcome bonus. Be sure to also look closely at the terms and conditions of every welcome bonus to understand the wagering requirement and what you need to do to be able to withdraw.
The good news is that you can save yourself from having to do all of this, by using a site like ours. Have a browse and take a look at all of the bonus offers we have for new players across different casinos in the UK. As well as the 500 casino bonus, you will find many other offers, and often a combination. It’s not unheard of to be offered a 500 casino bonus and 100 free spins on top. Pick your favourite and you can then go on to play the best online slots and casino games with bonus money that will hopefully become cash.
